The aggregator and the commercial property lender have joined forces to launch a new finance product for businesses, investors and SMSF borrowers.
Connective has announced the launch of a new white-label commercial property finance solution, called CHL Resolve, targeted towards businesses, investors and SMSF borrowers.
The CHL Resolve product suite includes full-doc, mid-doc and quick-doc loans.
Funded by commercial property lender Thinktank, CHL Resolve offers loans of up to $3 million, with 75 per cent loan-to-value ratios and 30-year loan terms.
Connective said there are no annual reviews, ongoing fees or regular property re-evaluations.
Michael Goerner, head of Connective Home Loans, said the aggregator has taken a “residential approach to commercial property lending”, adding that this makes the transition easier for residential mortgage brokers looking to diversify into commercial property lending.
“The commercial property sector is particularly buoyant at present, and this is creating opportunities for brokers to extend their offering beyond residential mortgages,” he said.
Commenting on the white-label partnership, Peter Vala, general manager of partnerships and distribution at Thinktank, said: “The value of this partnership in delivering CHL Resolve comes to the fore in an environment where the major banks are continually assessing risk and shifting exposure back onto the customer.”
Mr Vala added that Thinktank’s strategy has been to work with brokers.
“Thinktank’s deep industry experience has been singularly directed from the outset to working with brokers to deliver quality financial solutions to their clients while also helping to sustainably expand and diversify their businesses at the same time,” the general manager of partnerships and distribution said.
“We are delighted to be part of the launch of CHL Resolve and greatly look forward to extending our full support to Connective’s nationwide team and broker network.”
The aggregator also has in place white-label agreements with Adelaide Bank and specialist lender Pepper Money.
Connective said it also recently appointed four new business development managers across Australia to assist brokers enquiring about CHL solutions.
The aggregator’s director, Mark Haron, also joined the board of the Mortgage & Finance Association of Australia on 1 June.
The major brokerage has chosen MyCRM as its broker platform, but ...
ASIC will require debt management firms to hold a credit licence...
A member-owned bank has announced that it has appointed a new CEO...